2119 Putnam St Detroit, MI 48208

This vacant land is being sold as a bundle with three other lots located at 5001 Wabash, 5069 Wabash, and 2125 Putnam, Detroit, MI 48208. The combined area of the four lots totals 12,223 square feet. The lot being offered at 2119 Putnam is 0.03 acres. The properties are being sold together for $20,000, and will not be sold separately. This presents a great opportunity for infill housing development. Prospective buyers are required to submit an application to purchase, which must include construction plans or precedent architectural images of the proposed development, along with a financing plan that includes either proof of funds, a pre-approval letter, or a new construction loan. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following the transfer of ownership. This tax capture may not be compatible with other tax abatements available to the purchaser. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment amount will be determined after reviewing the development proforma and the effect of any tax abatement on the purchase and development financing. Buyer to verify all.